Aurum full year EBITDA soars as sale process continues

Like-for-like sales jumped 10.2% to £300.6m in its full year to January 29, 2012 and operating profits rocketed 53% to £18.3m.

The retailer, which put its sale on ice to concentrate on Christmas trading, said it has continued its “very controlled sales process”.

It said: “Interest remains high and the board is patiently reviewing potential new shareholders who will continue to back the current management team and further strengthen the existing growth strategy.”

Aurum, which is 67% owned by Landsbanki, was put up for sale last April. It forms part of the collapsed Icelandic bank’s bid to sell off its assets in its winding up process. It is also selling its stake in frozen food retailer Iceland.

The retailer, which operates Goldsmiths, Mappin & Webb and Watches of Switzerland, said its growth over the year was down to the execution of its six pillar strategy.

This includes the development of high margin jewellery, watch leadership, enhanced customer experience, improved operating efficiency, investment in people and e-commerce. Online sales rose 10.7% over the year.

The jeweller said it had enhanced its offer across all of its fascias, especially within Goldsmiths where it has launched exclusive brands including Canadian Ice, Biba and LA Rocks all of which it said had received positive customer reviews.

Further store openings are planned for the retailer’s Boutique Goldsmiths fascia, which it launched last year in Westfield Stratford, Lakeside in Essex and the Metro Centre in Gateshead.

Premium fascia Mappin & Webb delivered double digit growth over the year.

Aurum chief executive Justin Stead: “2011 has been a very exciting year for us and we are delighted with our brands’ performance. We are also very encouraged by the consistent positive sales trend experienced throughout the year, which demonstrates the strength of our six pillar strategy. We don’t expect retail conditions to improve materially in 2012, however we remain confident that we are now in an even better position to continue to deliver growth in the future.”